AT&T's Reverse Split Is Aimed
At Keeping Stock Price Afloat

AT&T Corp., whose shares are among the most widely held in the market, took the unusual step last week of announcing plans for a reverse stock split.

That's a maneuver in which a company reduces the number of shares held by the public but inflates the dollar price of each share. Shareholders come out even in a reverse split and don't gain or lose anything.